March 7 (Bloomberg) -- New York Giants cornerback Corey Webster agreed on a $3 million pay cut to remain with the National Football League team for one more season, according to the New York Daily News.
Webster, 31, lowered his 2013 salary to $4 million from $7 million, the newspaper reported citing an unidentified person familiar with the agreement. The Giants were planning to cut him had he refused to restructure the deal, according to the report.
The Giants also agreed on a restructured contract with 31-year-old center David Baas. He will lower his salary to $1.25 million from $4.25 million in exchange for a $3 million bonus, according to the newspaper.
Giants spokesman Pat Hanlon declined in an e-mail to comment on the report.
The new deals help move the Giants $9 million below the league’s $123 million salary cap, the Daily News said. The team earlier released running back Ahmad Bradshaw and defensive lineman Chris Canty.
An eight-year NFL veteran, Webster started all 16 games for the Giants last year. He had four interceptions and a career-high 58 tackles.
The Giants were 9-7 last season, finishing second in the National Football Conference East division and failing to qualify for the playoffs a year after winning the Super Bowl.
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